Guideline Value for Sri Amman Garden

Sri Amman Garden guideline value

The current guideline value of Sri Amman Garden is Rs 250 per sq.ft, effective from 1 July 2024. This property is located in Somangalam_B village under the Sriperumpudur SRO, classified as Residential Class II Type - I.

How the guideline value of Sri Amman Garden has changed

The guideline value for Sri Amman Garden has seen several revisions over the years. In the 2017 revision, the value was set at Rs 167 per sq.ft. This figure remained unchanged until the 2023 revision, where it was still Rs 250 per sq.ft. The 2024 revision also maintains this value at Rs 250 per sq.ft, indicating a 0% change from 2023 to 2024. Overall, from 2017 to 2024, the guideline value has increased by 50%.

It is important to note that the register has no figures for the revisions in 2002, 2003, 2007, and 2012 for this street. The absence of data for these years means we cannot assess any changes during those periods.

Guideline values in Somangalam_B

In Somangalam_B, there are 79 streets under the Sriperumpudur SRO that have a guideline value for 2024, ranging from Rs 150 to Rs 2,500 per sq.ft. The median guideline value for these streets is Rs 250 per sq.ft, which is the same as the guideline value for Sri Amman Garden.

• Sri City: Rs 350 per sq.ft (2024)
• Somangalam Main Road: Rs 500 per sq.ft (2024)
• Sri Ganapathi Nagar: Rs 200 per sq.ft (2024)
• Sky Avenue: Rs 150 per sq.ft (2024)
• Sri Gayathiri Doctor's Nest: Rs 400 per sq.ft (2024)
• Sri Gayathri Doctors Nest Ph.II: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Amman Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value would be Rs 2,50,000. The stamp duty at 7% would amount to Rs 17,500, while the registration fee at 2% would be Rs 5,000. Therefore, the total cost for stamp duty and registration would be Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Sri Amman Garden?

The Sub Registrar Office that covers Sri Amman Garden is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Somangalam_B

The guideline value plays a crucial role in property transactions in Somangalam_B. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized value.

During the registration process, buyers and sellers must provide the guideline value to the registration office. This ensures that all transactions are transparent and adhere to the established rates, which helps maintain consistency in property dealings within the area.

Frequently asked questions

What is the current guideline value of Sri Amman Garden?

The current guideline value of Sri Amman Garden is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 167 per sq.ft in 2017 to Rs 250 per sq.ft in both 2023 and 2024, indicating a 50% increase over this period.

What are the stamp duty and registration fees for properties in Sri Amman Garden?

For a property valued at Rs 2,50,000, the stamp duty would be Rs 17,500 and the registration fee would be Rs 5,000, totaling Rs 22,500.

Which Sub Registrar Office is responsible for Sri Amman Garden?

The Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone, covers Sri Amman Garden.

What is the land classification of Sri Amman Garden?

Sri Amman Garden is classified as Residential Class II Type - I, indicating its designation for residential use within the area.